Black money: Indians have stashed over $500bn in banks abroad, says CBI
Posted Date : 13-Feb-2012 , 04:33:55 pm | Posted By CASANSAAR
Indians are the largest depositors in banks abroad with an estimated 500 billion US dollars (nearly Rs 24.5 lakh crore) of illegal money stashed by them in tax havens, the CBI director said on Monday. India, in particular, has suffered from the flow of illegal funds to tax h...
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Finance |
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National Competition Policy to be launched on March 31: Moily
Posted Date : 13-Feb-2012 , 09:01:15 am | Posted By CASANSAAR
Speaking at a conference on investor awareness and corporate governance organised by the Udupi unit of Chartered Accountants of India at MGM College on Sunday, he said the policy would provide a conducive atmosphere for the investors and would generate employment. He said India would emerge as ...
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Corporate Law |
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0 | Hits : 678
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Rs 2,000 crore transactions under I-T scanner
Posted Date : 13-Feb-2012 , 08:59:01 am | Posted By CASANSAAR
In a major crackdown, the Income Tax department has under its scanner more than 22 crore instances of High Value transactions in the country and abroad which include unreported credit card operations and deals in real estate. The department has obtained, through its data mining and intelligence t...
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Income Tax |
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0 | Hits : 871
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Budget 2012: Tax deduction on home loans may be raised to Rs 3 lakh
Posted Date : 13-Feb-2012 , 08:56:22 am | Posted By CASANSAAR
In a bid to boost housing sector credit, the government is contemplating to enhance income tax exemption for up to Rs 3 lakh paid as interest on housing loans in a year, from the existing limit of Rs 1.5 lakh.
The government is considering to raise the tax deduction limit for housing loan in the ...
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Income Tax |
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0 | Hits : 1090
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New President & Vice-President of ICAI
Posted Date : 12-Feb-2012 , 03:10:59 pm | Posted By CASANSAAR
CASANSAAR Team Congrats New President & Vice-President of ICAI
CA. Jaydeep Narendra ShahPresident, ICAI
CA. Subodh Kumar AgrawalVice-President, ICAI
...
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ICAI |
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0 | Hits : 2401
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SC pulls up SEBI for leaking Sahara Group's proposal to media
Posted Date : 12-Feb-2012 , 12:16:48 pm | Posted By CASANSAAR
The Supreme Court has pulled up market regulator SEBI for leaking to media details of the proposal of Sahara Group's list of property sent to it as a guarantee to ensure that interest of investors are protected.
The apex court said it was 'distressed' that the proposal sent by Sahara's counsel to...
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SEBI |
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0 | Hits : 853
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Google, Yahoo! under fire; Enforcement Directorate to probe forex law violation
Posted Date : 12-Feb-2012 , 12:15:53 pm | Posted By CASANSAAR
Internet search giants Google and Yahoo! are being investigated for possible violations of the country's foreign exchange law, a government official said, intensifying pressure on them as they wage a legal battle over screening of 'objectionable' content on their websites.
The Enforcement Dire...
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General |
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0 | Hits : 708
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November 2011 Examination CA PCC, IPCC Pass Percentage
Posted Date : 11-Feb-2012 , 09:56:07 pm | Posted By CASANSAAR
The results of the Chartered Accountants IPCCExamination held in November 2011 was declared recently. The details of percentage of candidates passed in the above said examinations are given below; &nb...
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Students Zone |
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0 | Hits : 3709
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Govt approved 20 foreign direct investment of Rs 1,034 crore
Posted Date : 11-Feb-2012 , 09:25:24 pm | Posted By CASANSAAR
The Government today approved 20 foreign direct investment proposals amounting to around Rs 1,034 crore. The proposals were cleared following recommendations of the Foreign Investment Promotion Board.According to the Ministry of Finance release, the Government cleared Singapore-based Fluke South Eas...
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Finance |
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0 | Hits : 684
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Discontinuation of Despatch of Admit Cards in physical form - ICAI
Posted Date : 10-Feb-2012 , 10:51:49 am | Posted By CASANSAAR
Candidates may please note that dispatch of Physical Admit Cards is being discontinued with effect from MAY 2012 exam onwards.
Admit Cards will be hosted on the website www.icai.nic. in normally 21 days prior to the commencement of the examination.
...
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Students Zone |
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1 | Hits : 1864
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2G case: Chartered Accountant resiling from statement to save RADAG officials, says CBI
Posted Date : 10-Feb-2012 , 07:48:50 am | Posted By CASANSAAR
A prosecution witness in 2G spectrum case was today accused by CBI in a Delhi court of resiling from his statement to save the three Reliance ADA Group officials who are facing trial in the case. Nilesh Doshi, a chartered accountant, was accused by CBI of making a "false statement" as a witness ...
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GST |
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0 | Hits : 1003
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Budget 2012: House panel for raising income tax exemption limit to Rs 3 lakh
Posted Date : 10-Feb-2012 , 07:44:36 am | Posted By CASANSAAR
A key Parliamentary Committee will adopt tomorrow the crucial report on Direct Taxes Code (DTC) Bill and recommend raising the income tax exemption limit to Rs 3 lakh from Rs 1.8 lakh at present. The Standing Committee on Finance, headed by former Finance Minister and senior BJP leader Yashw...
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Income Tax |
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0 | Hits : 954
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US watchdog fines Ernst & Young $2 mln over audits
Posted Date : 09-Feb-2012 , 09:39:05 am | Posted By CASANSAAR
The Public Company Accounting Oversight Board said it also sanctioned four current and former Ernst & Young partners for violating PCAOB rules in the audits of Medicis, which sells prescription drugs for asthma and skin conditions.
Ernst & Young settled without admitting or denying the PC...
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Auditing |
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0 | Hits : 1103
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IT dept gets over 3000 complaints on e-refund, e-filing
Posted Date : 09-Feb-2012 , 09:35:49 am | Posted By CASANSAAR
The Income Tax (I-T) department has received a large number of complaints from the assesses in relation to e-refund and e-filing of income tax returns, which were launched in 2006. So far, the department received as many as 3,009 complaints through citizen's charter and 111 grievances were re...
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Income Tax |
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0 | Hits : 945
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Sebi to give MCA names of over 500 cos who violated CIS rules
Posted Date : 08-Feb-2012 , 06:37:00 pm | Posted By CASANSAAR
Market regulator Sebi has decided to share with the Ministry of Corporate Affairs the names of over 500 companies, which have garnered money from investors in violation of its Collective Investment Scheme (CIS) rules.Sebi would also give the names of the directors of such entities to the M...
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SEBI |
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0 | Hits : 815
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Genpact beats expectations with 27% growth in sales to $1.6 billion
Posted Date : 08-Feb-2012 , 08:40:06 am | Posted By CASANSAAR
India's largest BPO firm Genpact on Tuesday beat market expectations to report a 27% rise in its annual revenues to $1.6 billion, on account of cash flows from Headstrong clients and growth in its non-GE business, but guided a lower growth for 2012. The Gurgaon-based BPO firm expects 2012 revenue...
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International Business |
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0 | Hits : 842
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UIDAI launches online verification of Aadhaar numbers
Posted Date : 08-Feb-2012 , 08:38:40 am | Posted By CASANSAAR
The Unique Identification Authority of India (UIDAI) on Tuesday launched its online authentication of Aadhaar numbers facility, which is proposed to help banks, telecom companies and government departments authenticate an Indian resident, via mobile phones, computers, tablets or other devices, ...
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General |
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0 | Hits : 968
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Now, book railway tickets 4 months in advance
Posted Date : 08-Feb-2012 , 08:37:13 am | Posted By CASANSAAR
The railways has decided to increase the advance reservation period from the current 90 days to 120 days from March 10. "It has been decided to increase the advance reservat-ion period from 90 days to 120 days on experimental basis," the commercial department's circular said. The railways claim...
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General |
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0 | Hits : 877
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Collection of direct taxes grew 16%, slower than the required 35%
Posted Date : 08-Feb-2012 , 08:33:13 am | Posted By CASANSAAR
India's direct tax collection grew 16% in 10 months this fiscal, sharply lower than the 35% pace needed to meet the government's full-year projection. According to figures available with the income-tax department, direct tax receipts in the current fiscal to February 5 grew to 3.6 lakh crore, ag...
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Income Tax |
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0 | Hits : 657
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Sebi directs two to pay Rs 2.72 cr for unlawful gains
Posted Date : 08-Feb-2012 , 08:26:34 am | Posted By CASANSAAR
Market regulator the Securities and Exchange Board of India (Sebi) has directed two individuals -- Shailesh S Jhaveri and Harsha M Shah -- to collectively pay Rs 2.72 crore for their involvement in fraudulent and unfair trade practices during preferential allotment of shares of Ojas Technochem Pro...
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SEBI |
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0 | Hits : 665
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RBI asks banks to refund unclaimed deposits estimated over 1700 crore rupees
Posted Date : 08-Feb-2012 , 08:22:55 am | Posted By CASANSAAR
The Reserve Bank of India, RBI on Tuesday asked banks to locate and refund unclaimed deposits estimated at over 1700 crore rupees. In an instruction to banks, the RBI said that banks in public interest must play a more pro-active role by finding the whereabouts of the account holders of unclaimed de...
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RBI |
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0 | Hits : 801
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Union Budget to be presented on March 16
Posted Date : 07-Feb-2012 , 02:41:37 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee will unveil the Union Budget for 2012-13 on March 16 in the Lok Sabha. The budget session will begin on March 12 with President Pratibha Patil addressing the joint sitting of members of both the Houses of Parliament. While the rail budget will be presented...
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Income Tax |
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0 | Hits : 823
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Mandatory death penalty is unconstitutional: Supreme Court
Posted Date : 07-Feb-2012 , 08:09:07 am | Posted By CASANSAAR
The Supreme Court has ruled that mandatory death penalty for an offender under the Arms Act was unconstitutional as it violated fundamental rights guaranteed to a citizen.
A bench of Justices Asok Kumar Ganguly (since retd) and J S Khehar said Section 27(3) of the Arms Act, which imposed mandator...
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General |
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RBI relaxes cap on banks
Posted Date : 07-Feb-2012 , 08:04:42 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has marginally relaxed the banks’ individual limits on net open positions in foreign exchange, which were cut sharply in December.
However, snapping four-session gaining spree, the rupee today lost 36 paise to close at 49.05/06 against the dollar due to fresh...
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Banking |
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0 | Hits : 760
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Manappuram Finance cannot accept deposits: RBI
Posted Date : 06-Feb-2012 , 07:52:29 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday cautioned Kerala-based gold-loan company Manappuram Finance Ltd against accepting deposits from the public and threatened to take action if it continued doing so. RBI said acceptance of deposits either by Manappuram Finance or Manappuram Agro Farms (Mag...
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RBI |
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0 | Hits : 963
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Budget 2012 likely to increase income tax exemption limit to Rs 2 lakh
Posted Date : 06-Feb-2012 , 07:49:36 pm | Posted By CASANSAAR
The government is likely to provide some relief to individual income tax payers in the forthcoming Budget by raising the exemption limit to Rs 2 lakh, as provided in the Direct Taxes Code (DTC), and hiking the slabs for different tax brackets. The possibility of lowering the tax rates...
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Income Tax |
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1 | Hits : 975
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Text of the Speech of Union Finance Minister Shri Pranab Mukherjee at the India Corporate and Investor Meet
Posted Date : 06-Feb-2012 , 07:47:40 pm | Posted By CASANSAAR
Following is the text of the Speech of Union Finance Minister Shri Pranab Mukherjee at the India Corporate and Investor Meet in Kolkata today:-
&ldqu...
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Finance |
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0 | Hits : 708
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Court raps Google, FB; gives 15 more days to remove 'objectionable' content
Posted Date : 06-Feb-2012 , 03:27:16 pm | Posted By CASANSAAR
Admonishing internet firms like Google and Facebook, a Delhi court on Monday gave 15 more days to 22 social networking sites to remove 'objectionable' contents from their websites. According to media reports, a judge presiding over the matter said that these sites did not deserve any mor...
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International Business |
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0 | Hits : 972
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Chartered Accountants, Cost Accountants & Company secretaries may soon work under one roof
Posted Date : 06-Feb-2012 , 08:47:23 am | Posted By CASANSAAR
Representatives of the professional bodies for chartered accountants (CAs), company secretaries and cost accountants will meet later this month to decide on ways members of the three institutes can work together in a limited liability partnership (LLP) firm.
The presidents of the Institut...
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ICAI |
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0 | Hits : 2666
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PAN to be most potent tool against tax evasion: Income Tax Department
Posted Date : 06-Feb-2012 , 08:44:20 am | Posted By CASANSAAR
Come next financial year, the PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money, tax evasion and instances of criminal financing in the country. A recent directive of the Central Board of Direct Taxes (CBDT) to the I-T Dept has asked its offic...
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Income Tax |
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0 | Hits : 1124
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